Australian rap star Iggy Azalea recently launched a meme coin, Mother Iggy (MOTHER), which soared significantly. Interestingly, the ETFSwap (ETFS) token also saw its value skyrocket following this development. These two altcoins have benefitted significantly as celebrities like Iggy Azalea enter into the crypto space.
Altcoins Rally: ETFSwap (ETFS) Soars Following Iggy Azalea’s MOTHER Meme Coin Launch
ETFSwap’s value has skyrocketed by over 500% in the last 24 hours following the Iggy Azalea’s Mother Iggy (MOTHER) meme coin launch. ETFS, the native token of the decentralized investment platform ETFSwap, is believed to have soared because the platform could become home to these celebrities as more continue to venture into crypto.
These celebrities are known for diversifying their portfolio into altcoins, which is where a platform like ETFSwap (ETFS) comes in since they can invest in crypto assets and exchange-traded funds (ETFs) on the platform. The investment platform tokenizes these ETFs and makes them available for on-chain trading.
ETFSwap (ETFS) is bound to become their preferred choice (over centralized trading platforms) for several reasons. For one, the platform offers a simpler and more secure environment for trading these traditional assets. Trading on the investment platform is more straightforward since users simply need a crypto wallet and the ETFSwap (ETFS) token to start investing in traditional assets.
Furthermore, it is worth mentioning that the Know-Your-Customer (KYC) requirements on the ETFSwap (ETFS) are non-mandatory, meaning that users (including these celebrities) can quickly get started on investing without having to worry about the unnecessary paperwork and verification processes that they would usually encounter if they were to use centralized entities.
ETFSwap (ETFS) also further safeguards users’ privacy by using zero-knowledge (zk) proof technology on the platform. That means users can easily trade without fear of their identity being revealed.
This is a vital feature, especially for investors who would love to keep their investment decisions private and away from the prying eyes of the government or regulators. Users can rest assured that they are trading anonymously, as even ETFSwap (ETFS) will have no idea who makes the trades.
Meanwhile, using the ETFSwap (ETFS) is considered a more secure way to invest since transactions on the platform are highly encrypted, making them less susceptible to hacks, unlike the traditional finance (TradFi) infrastructure. ETFSwap’s (ETFS) unparalleled security is even more critical given the millions of dollars investors will be looking to invest in these tokenized ETFs.
Iggy Azalea’s MOTHER Meme Coin Surges With Investors Making Significant Gains
The Mother Iggy (MOTHER) meme coin quickly surged to a market capitalization of $29.2 million following rap star Iggy Azalea’s revelation that she was the developer behind the coin, which was deployed on the Solana (SOL) network. Meme coin traders are seen to have made significant gains from the surge in the Mother Iggy (MOTHER) coin’s market cap, making it one of the top gaining altcoins of the day.
On-chain analytics platform Lookonchain revealed that a particular trader turned $861 into $657,000 (a 762x gain) in just 5 hours by trading the Mother Iggy (MOTHER) meme coin. On-chain data tracker Bubblemaps also revealed another trader who made a $2 million profit by buying the Mother Iggy (MOTHER) coin just before Iggy Azalea’s revelation that she was the developer behind the meme coin.
Meanwhile, Iggy Azalea has continued to actively promote the Mother Iggy (MOTHER) meme coin on her X (formerly Twitter) platform. However, the crypto’s value has dropped to a market cap of around $16.6 million from its all-time high (ATH) of $29.2 million. This is a stark reminder of the risk that comes with these altcoins that carry no intrinsic value.
Conclusion On Altcoins Backed By Celebrities
With celebrities like Iggy Azalea set to flock to altcoins such as ETFSwap (ETFS), one can only imagine the billions of dollars that will flow into the investment platform daily. These inflows will pass through the platform’s native token, ETFSwap (ETFS), since that is what they will convert to the ETFs of their choice.
For more information about the ETFS Presale:
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